Summary: The Independent Broker Dealer or IBD model offers a mix of freedom and support for advisors who want flexibility but also to retain some of the "scaffolding" they're accustomed to.<br> In previous episodes, Mindy talked about “how independent” you might want to be. The reality is that independence isn’t one-size-fits-all. So in choosing whether independence is right for you at all, you need to understand the various models and what each offers in terms of freedom and flexibility. Then you can better align just “how independent” you want to be—that is, just how much support and scaffolding you desire.<br> <br> Do you want to be fully independent or do you like the idea of being supported? Do you want the freedom to manage your own P&L and operations?<br> <br> In this episode, Mindy focuses solely on the Independent Broker Dealer (IBD) model and what makes it so popular among many advisors who have gone independent. She shares:<br> <br> * Key differentiators of the IBD model<br> * The benefits and limitations of the IBD model<br> * What differentiates an independent broker dealer from a full service broker dealer<br> * The difference between the IBD model and the Registered Investment Advisor or RIA model<br> * 8 distinctions between the IBD and RIA models<br> * A 9-point checklist to help determine the right broker dealer for you<br> <br> In the next episode, Mindy will define the RIA model and the unique advantages it offers for advisors looking for a greater amount of freedom.<br> <br> <br> <br> <br> <br> <br> <br> Related Resources<br> <a href="http://www.diamond-consultants.com/enduring-appeal-independent-broker-dealer/">The enduring appeal of the IBD</a><br> How the model retains its relevancy amongst independent advisors. <a href="http://www.diamond-consultants.com/enduring-appeal-independent-broker-dealer/">Read -></a><br> <br> <a href="http://www.diamond-consultants.com/the-9-requirements-of-a-modern-broker-dealer-relationship/">9 Requirements of the Modern Broker Dealer Relationship</a><br> It’s not all apples to apples when it comes to comparing one IBD to another. <a href="http://www.diamond-consultants.com/the-9-requirements-of-a-modern-broker-dealer-relationship/">Read -></a><br> <br> <a href="http://www.diamond-consultants.com/ibd-vs-ria-way-advisor-go/">IBD vs RIA: Which way should an advisor go?</a><br> 5 differences – and potential limitations – every advisor should understand before they decide.<br> <a href="http://www.diamond-consultants.com/ibd-vs-ria-way-advisor-go/">Read -></a><br> <br> <a href="http://www.diamond-consultants.com/3-key-elements-perfect-broker-dealer-partner-profile/">3 Key Elements of the Perfect Broker Dealer Partner Profile</a><br> Evaluating broker dealers? Here are the areas you need to pay attention to. <a href="http://www.diamond-consultants.com/3-key-elements-perfect-broker-dealer-partner-profile/">Read -></a><br> <br> <a href="https://insights.diamond-consultants.com/acton/attachment/43644/f-05746c0d-4b95-4b4a-b000-5b2631a4a403/1/-/-/-/-/IBD-Factors-7%20%281%29.pdf" target="_blank" rel="noopener noreferrer">Independent Advisor Gut Check</a><br> [PDF] The 10 criteria for comparing and contrasting broker dealers. <a href="https://insights.diamond-consultants.com/acton/attachment/43644/f-05746c0d-4b95-4b4a-b000-5b2631a4a403/1/-/-/-/-/IBD-Factors-7%20%281%29.pdf" target="_blank" rel="noopener noreferrer">Download -></a><br> <br> <br> <br> <br> <br> This podcast is also available on...<br> <a href="https://itunes.apple.com/us/podcast/mindy-diamond-on-independence-for-financial-advisors/id1305878240" target="_blank" rel="noopener noreferrer"></a> <a href="https://podcasts.google.com/feed/aHR0cHM6Ly93d3cuZGlhbW9uZC1jb25zdWx0YW50cy5jb20vZmVlZC9wb2RjYXN0Lw==" target="_blank" rel="nofollow noopener noreferr..."></a>
